One of America’s Best Craft Distilleries Just Dropped a New 100% Wheat Whiskeycited a new report showing that spirits sales in the U.S. were down by nearly 3 percent in the year leading up to March of 2024. That’s clearly bad news for the industry and the distilleries who actually make the spirits, and while the future remains uncertain, this is not the only pessimistic reporting as of late.
This is not the only warning sign for the spirits industry, as some of the biggest drinks corporations have issued reports that show their own declines. Last month, Constellation Brands reported a decline of 6 percent across its wine and spirits portfolio, which includes well-known brands like, and Svedka Vodka. The company’s overall earnings were up, however, thanks to an 11 percent increase in sales of its beer brands, which include Mexican beer giants Modelo and Corona.
As to be expected, there is some conflicting information here as companies try to put their best spin on poor showings. But all of this doesn’t mean the spirits industry is about to collapse anytime soon–if anything, it could just indicate stabilization for a spirits market that has had consumers paying some extreme prices over recent years. According to SipSource, spirits sales over the rest of 2024 are likely to improve, although they might not reach the heights of a few years ago.